I'm very interested in Venture Capital after an investment banking stint. For these exits, is it required to be in a tech group or is it possible to exit into VC from more generalized product groups (i.e M&A) or different coverage groups?
Also, what are the generally considered IBD top banks/groups for exiting into VC/Growth Equity types of shops?
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Interested
tech/tmt groups are the best, and being in SF/the bay is definitely the way to go
I think Qatalyst/Goldman SF/MS Menlo Park are the places to be
From what I've heard this is definitely true, but from my understanding many people exit to good VCs from other groups as well. For example, saw a guy from Moelis SF exit to Andreessen Horowitz, and I think that's fairly common. This is anecdotal, though.
ib to andreessen horowitz is not common at all
good to know. Are you saying that specifically to Andreessan is more uncommon than to other VCs?
Have a family member who is managing partner/founder of a top tech VC. From what I have heard from him, they prefer buy side roles > VC instead of IB. If you want to get into VC I would look at tech PE analyst roles, growth equity, corporate dev at very acquisitive companies, that sort of thing. I think it is also easier to break into VC from a non finance background as long as you are doing something interesting, are smart, and have a solid self studied finance base. Helps you stick out from the 200 IB applications for 1-2 spots that they are offering. If you want to stick at a VC long term, need to come in above the analyst level. They don't really promote analysts to higher levels in the firm at this guy's shop, just have them for 2 years catch and release. Good luck.
Edit: If you wanna go IB > VC, top groups/highly specialized is probably the way to go. GS TMT > Tech VC, FTP> Fintech VC etc. Not sure this is a very common route though.
Where do people come from to go to above the analyst level? Are they all ex founders?
In one of these west coast target groups and my quick take is that if you want to do true early stage investing it’s going to take a relatively unconventional recruiting process and some extra leg work on your end. Growth equity at any of these top end shops is very viable and recruiting often occurs through more traditional streams (HHs, etc.)
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